Stable
Swaps.
Zero Slippage.

Wombat Exchange is a hyper-efficient multichain stableswap AMM (Automated Market Maker) protocol. It enables near-zero slippage stablecoin swaps across 10+ EVM chains including BNB Chain, Ethereum, Arbitrum, Optimism, Polygon, Avalanche, Base and zkSync Era. Unlike traditional stableswaps, Wombat allows single-sided liquidity provision — you can deposit just one stablecoin to earn swap fees and WOM token rewards without any impermanent loss risk.

The key differences: (1) Single-sided deposits — Wombat lets you provide liquidity in just one asset, whereas Curve requires proportional deposits across all pool assets. (2) Novel invariant — Wombat's "open liquidity" design achieves higher capital efficiency and lower slippage on large trades. (3) Multichain first — Wombat launched simultaneously across multiple chains rather than expanding from Ethereum. (4) veWOM vs veCRV — similar vote-escrowed mechanics but with a simpler boost model. Both protocols serve stablecoin liquidity but Wombat's architecture is newer and optimized for cross-chain LP simplicity.

WOM is the native utility and governance token of Wombat Exchange. It serves multiple functions: (1) Liquidity mining rewards — distributed to LPs as incentives for providing stablecoin liquidity. (2) Staking — stake WOM to receive veWOM and boost your LP yields up to 2.5x. (3) Governance — veWOM holders vote on which pools receive WOM emissions each weekly epoch. (4) Bribe revenue — veWOM holders earn bribes from protocols wanting votes for their pools. WOM price data is fetched live from CoinGecko API on this site.

veWOM (vote-escrowed WOM) is a non-transferable governance and boost token received when you lock WOM. The amount of veWOM you receive is proportional to the number of WOM tokens staked and the duration of the lock — the longer you commit, the more veWOM you get. veWOM gives you: (1) up to 2.5x LP yield boost on your liquidity positions, (2) weekly voting rights to direct WOM emissions to pools of your choice, (3) entitlement to bribe revenues from protocols. veWOM decays if you unlock early (with a penalty) or reaches full maturity at lock expiry.

To swap on Wombat Exchange: (1) Connect your EVM wallet (MetaMask, WalletConnect, Coinbase Wallet, etc.) via the "Connect Wallet" button. (2) Select your desired EVM chain (BNB Chain is default). (3) Choose the stablecoin you want to swap from and to (e.g., USDT → USDC). (4) Enter the amount. (5) Review the quoted output, price impact (<0.01% for most stable pairs) and fee (0.01%). (6) Set slippage tolerance — 0.05% works for most trades. (7) Click "Swap Now" and confirm in your wallet. The transaction typically settles within seconds depending on the chain.

Wombat Exchange charges among the lowest stable swap fees in DeFi. The base protocol fee is 0.01% per swap for main stable pairs — significantly lower than Curve's 0.04% and Uniswap's 0.05% stable pools. A portion of fees goes to liquidity providers (80%) and the protocol treasury (20%). On top of the protocol fee, you pay standard EVM gas — on BNB Chain this is typically under $0.10, on Arbitrum and Optimism under $0.05. There are no deposit or withdrawal fees for standard pool interactions.

Single-sided liquidity means you can deposit just one type of stablecoin into a Wombat pool without needing to pair it with another asset. Traditional AMMs like Uniswap require you to deposit an equal value of two different tokens — if you only have USDT, you'd need to first buy some USDC too. Wombat eliminates this friction. You deposit USDT alone, and the protocol internally manages the pool balance. This dramatically simplifies LP participation and removes impermanent loss risk for stable assets, since single-sided positions in stablecoin pools don't suffer from price divergence between paired assets.

The coverage ratio (r) is the ratio of actual asset balance to the protocol-acknowledged liability for each token in a Wombat pool. An r of 1.0 means perfect balance. When r < 1 (undercoverage), the pool has less of that asset than it owes — swapping TO that asset becomes cheaper, incentivizing rebalancing. When r > 1 (overcoverage), swapping FROM that asset is incentivized. This dynamic fee mechanism automatically rebalances pools without requiring external arbitrageurs, maintaining tight peg stability and efficient liquidity utilization across all Wombat pools.

For standard stablecoin pools (USDT, USDC, DAI, BUSD, FRAX, etc.), impermanent loss is effectively zero because all assets are pegged to the same value ($1) and don't diverge in relative price. Because Wombat supports single-sided deposits, you are only exposed to the risk of the one stablecoin you deposited — if USDT de-pegs, you hold USDT risk, which is the same risk you had before depositing. There is no amplified IL from paired asset divergence as in standard AMMs. However, coverage ratio dynamics can cause slight withdrawal differences — Wombat displays this clearly before you confirm.

BNB Chain is Wombat's primary deployment with the highest TVL, most pool variety and deepest stablecoin liquidity — ideal for most users. Arbitrum offers excellent fees (under $0.05) with growing liquidity. Ethereum mainnet has highest absolute liquidity but higher gas costs ($5–$20 per transaction). For maximum capital efficiency and frequent interactions (claiming rewards, adding/removing liquidity), Arbitrum or Optimism are recommended. For the widest pool selection and highest WOM emissions, BNB Chain is the primary venue.

Wombat Exchange supports all major EVM wallets: MetaMask (browser extension and mobile), WalletConnect v2 (200+ compatible wallets), Coinbase Wallet, Trust Wallet, Binance Wallet, Rabby, Rainbow, Frame, Ledger (hardware) and Trezor (hardware). On BNB Chain, Binance Chain Wallet and SafePal are also fully supported. For mobile users, opening wombat-exchange.xyz inside MetaMask Mobile, Trust Wallet or Coinbase Wallet's built-in browser provides one-tap transaction signing. Any browser wallet that injects window.ethereum into the browser is compatible.

Wombat Exchange supports a wide range of stablecoins across all chains: USDT, USDC, DAI, BUSD, FRAX, sUSD, TUSD, USDP, LUSD, MIM, MAI, GUSD, DOLA, agEUR, EURS, jEUR (EU stablecoins), and more. Additionally, Wombat supports yield-bearing stablecoin variants like ankrBUSD, HAY (BNB Chain native stablecoin), and liquid staking tokens (ankrBNB, BNBx, stkBNB). The full list varies by chain — see the Pools dashboard for all available assets on your selected network.

WOM emissions are allocated through Wombat's gauge weight system governed by veWOM holders. Each weekly epoch, veWOM holders vote to assign emission weight to specific pools — pools with more votes receive proportionally more WOM rewards for their LPs. Protocols (stablecoin issuers, DeFi projects) wanting to attract liquidity to their pool can bribe veWOM holders with external tokens to vote for them. This creates a competitive market for liquidity that benefits both veWOM stakers (bribe income) and LPs in high-emission pools (boosted yields).

Yes. Wombat Exchange is fully non-custodial — your funds remain under your wallet's control at all times. Deposits go directly into Wombat's on-chain smart contracts, not into any company account. Wombat's contracts have been audited by multiple reputable blockchain security firms. Audit reports are publicly available in the documentation. An active bug bounty program rewards responsible vulnerability disclosure. Any protocol change requires on-chain governance approval with a time-lock before execution.

No. Wombat Exchange is permissionless and fully decentralized. No account registration, email address, personal documents or KYC/AML verification is required at any stage. All you need is an EVM-compatible wallet with stablecoins and gas. The protocol's smart contracts are open to any wallet address without restriction. Wombat Exchange cannot block, freeze or censor any transaction — the on-chain contracts execute autonomously based purely on code.

Wombat's coverage ratio mechanism acts as a natural protection against de-peg events. If a stablecoin (e.g., USDT) loses its peg, users trying to swap large amounts of USDT for USDC will face increasingly unfavorable pricing as the coverage ratio for USDT rises above 1.0 (the pool has more USDT than it should). This dynamically discourages one-sided bank runs. Wombat also uses slippage-controlled withdrawal — attempting to withdraw a de-pegged asset at the same rate as a pegged one incurs a haircut that incentivizes proportional behavior. These mechanics helped Wombat survive the BUSD de-peg and other events without LP losses.

APRs on Wombat pools consist of two components: (1) Base APR from swap fees, typically 1–5% annually depending on trading volume through the pool. (2) WOM emission APR, which varies from 5–25%+ depending on that pool's gauge weight votes. Total APRs (base + WOM) typically range from 8% to 22% on main stablecoin pools. With a 2.5x veWOM boost, this can be pushed to 20–55%+ effective APR for large veWOM holders. Pool APRs are displayed live in the Pools dashboard and update based on real-time fee accrual and WOM emission rates.

WOM rewards accrue continuously block-by-block as long as you have liquidity in an active Wombat pool. To claim: (1) Connect your wallet at wombat-exchange.xyz. (2) Navigate to the Earn/Pools dashboard. (3) Click "Claim" on any pool showing pending WOM rewards. (4) Confirm the transaction in your wallet. Claimed WOM goes directly to your wallet. You can then hold, swap or stake the WOM for veWOM boost. There is no lock-up on claimed WOM rewards — they are freely transferable immediately upon claim. On low-fee chains like Arbitrum, claiming frequently is gas-economical.

Wombat Bribe is the protocol's vote incentive marketplace. Protocols and stablecoin issuers that want to attract WOM emissions to their specific pool can deposit "bribes" — external tokens — that are distributed to veWOM holders who vote for that pool in the weekly gauge weight vote. For example, a stablecoin protocol might deposit 10,000 USDC as a bribe, which gets distributed proportionally to all veWOM voters who allocated weight to their pool. This system lets veWOM stakers earn additional yield beyond WOM emissions, while helping protocols efficiently source stablecoin liquidity on Wombat.

Protocols wanting to list their stablecoin or yield-bearing asset on Wombat Exchange should submit a governance proposal (Wombat Improvement Proposal — WIP) via the community forum at forum.wombat.exchange. The proposal should include: token contract address, economic model, peg mechanism, existing liquidity, and requested pool parameters. Once passed by veWOM governance vote, the pool is deployed by the core team. For priority listing with WOM emission allocation from day one, protocols can also pre-commit to a bribe strategy to attract veWOM votes to their pool immediately upon launch.

Yes. Wombat Exchange is fully responsive and optimized for mobile. Open wombat-exchange.xyz inside the built-in DApp browser of MetaMask Mobile, Trust Wallet, Coinbase Wallet or Binance Wallet on iOS or Android. This automatically connects your wallet and lets you approve transactions with biometric authentication (Face ID / fingerprint). All features — swap, liquidity provision, WOM staking, veWOM voting and reward claiming — are available on mobile with the same functionality as desktop.

WOM has a maximum supply of 4 billion tokens. The token distribution covers: liquidity mining rewards (the largest allocation, distributed over several years to LPs), team and advisors (vested), investors (vested), ecosystem development fund, treasury, and public sale. The emission schedule is decreasing over time, with earlier LPs receiving higher WOM per dollar deposited. Current circulating supply and real-time price data is available via the CoinGecko API integration on Wombat Exchange's interface. Governance can vote to adjust emission rates but cannot mint beyond the hard cap.

Wombat Exchange currently operates as individual deployments on each chain — cross-chain swaps in a single transaction are not yet natively supported within Wombat's own contracts. To swap stablecoins across chains, use Wombat's native pools on each chain in combination with a cross-chain bridge. Wombat is exploring native cross-chain swap functionality in its roadmap via bridge integrations. The protocol's multichain presence (10+ EVM chains) means you can access identical pool types on whichever chain your stablecoins are already on.

For stablecoin-to-stablecoin swaps specifically, Wombat is superior to standard Uniswap v2/v3 in key metrics: Slippage — Wombat <0.01% vs Uniswap 0.01–0.05%+ on large trades. Fees — Wombat 0.01% vs Uniswap minimum 0.05% stable pools. LP experience — Wombat single-sided vs Uniswap paired deposits. Impermanent loss — near-zero on Wombat stables vs possible on Uniswap depending on pool type. However, Uniswap supports any token pair while Wombat is specialized for stable assets. For volatile token pairs, use a general-purpose DEX; for stablecoin swaps, Wombat's specialized AMM consistently wins on price and LP returns.

Wombat charges a withdrawal haircut that scales with pool coverage ratio imbalance. When you withdraw an asset that is already undercovered (coverage ratio < 1), you may receive slightly less than you deposited to prevent bank-run dynamics that would harm remaining LPs. This haircut is typically very small (<0.1%) during normal market conditions and only becomes significant during extreme de-peg events. Wombat always shows the exact haircut amount before you confirm a withdrawal. The haircut does not apply to withdrawals that improve pool balance (withdrawing an overcovered asset).

Wombat Exchange supports several yield-bearing (interest-accruing) stablecoin variants, particularly on BNB Chain: ankrBUSD (Ankr's yield-bearing BUSD), HAY (Helio Protocol's BNB-backed stablecoin), BNBx (Stader's liquid staked BNB), ankrBNB (Ankr's liquid staked BNB), stkBNB (pStake's staked BNB) and more. For yield-bearing assets, Wombat's AMM algorithm accounts for the underlying yield accrual in price calculations, preventing LP losses from the token price naturally rising over time. These specialized pools let you earn both the underlying yield AND swap fees AND WOM emissions simultaneously.

Wombat Exchange uses on-chain governance powered by veWOM. Proposals (WIPs — Wombat Improvement Proposals) are submitted on the community forum, discussed for a minimum period, then voted on by veWOM holders. Successful proposals require a quorum of veWOM votes and are executed via timelock — meaning approved changes must wait 48+ hours before taking effect, giving the community time to react. Governance covers: adding new pools, adjusting fees, changing emission schedules, protocol treasury management, and technical upgrades. All governance actions are transparent and on-chain.

Yes. Through Wombat's "boosted pools" feature, protocols can add their own token as a secondary reward on top of WOM emissions. For example, a stablecoin project might add their governance token as an extra reward for LPs providing liquidity to their stablecoin pool. These external rewards appear alongside WOM in the Earn dashboard. Additionally, veWOM holders earn bribe rewards in whatever tokens protocols choose to use as bribes — typically USDC, USDT or the protocol's native token — providing stablecoin income streams for long-term WOM stakers.

Because Wombat's design minimizes price impact, slippage tolerances can be set much tighter than on general AMMs. For stablecoin pairs (USDT/USDC, USDT/DAI, etc.) under $1M: 0.01%–0.05% is sufficient. For $1M+ trades: use 0.1%. The "Auto" setting dynamically calculates optimal slippage based on your trade size and current pool depth. Setting slippage too low may cause transactions to fail if block-level price variations exceed your tolerance; setting it too high is usually harmless on stable pairs since true price impact is near zero. For non-stable pairs involving WOM or yield-bearing tokens, use 0.5%–1.0%.

The maximum veWOM boost multiplier is 2.5x on all Wombat liquidity mining rewards. Without any veWOM, your base LP yield multiplier is 1.0x (you receive the minimum WOM emission rate). With sufficient veWOM relative to your liquidity size, you can achieve the maximum 2.5x multiplier, effectively earning 2.5 times more WOM per dollar of liquidity than a non-staker. The exact veWOM requirement depends on your liquidity size versus total pool liquidity — smaller LPs reach max boost with less veWOM. The boost calculation is shown in real time on the Earn dashboard when you connect your wallet.

Wombat Exchange runs periodic community referral and ambassador campaigns. During active campaigns, you can earn WOM tokens for referring new liquidity providers or traders to the protocol. Referral links are generated from your connected wallet address. The standard program pays a percentage of the referred user's first month of WOM emissions. For larger-scale business development and protocol integrations, the Wombat team operates an ecosystem fund that provides WOM grants and co-incentive programs for projects building on or integrating Wombat liquidity.

Wombat Exchange's interface fetches live WOM/USD price data from the CoinGecko public API (api.coingecko.com). CoinGecko aggregates prices from all major exchanges trading WOM and provides a manipulation-resistant consensus price. The price displayed in the header, swap widget and staking dashboard refreshes every 60 seconds automatically. CoinGecko was chosen because it provides reliable, free access to WOM price data without requiring an API key, ensuring the price feed is always accessible. For on-chain price usage within smart contracts, Wombat uses Chainlink price oracles as the authoritative source.

Your deposits are safe regardless of website availability. Wombat Exchange's smart contracts exist on-chain and are fully permissionless — they continue operating regardless of whether wombat-exchange.xyz is accessible. If the website goes offline, you can interact with Wombat's contracts directly through the blockchain explorer (BscScan, Etherscan, Arbiscan etc.) using the Write Contract function. Open source code means alternative interfaces can always be deployed. Your LP tokens representing your deposit are always in your own wallet and can be redeemed directly at the contract level without any website.

Wombat's "open liquidity" design refers to its novel AMM invariant that allows each asset in a pool to have an independent balance rather than requiring strict proportional balance like Curve's StableSwap. This means: (1) Adding a new stablecoin to an existing pool doesn't dilute existing LPs. (2) LPs earn fees proportional to their individual asset deposits, not pool share. (3) The AMM achieves efficient pricing across a much wider range of pool imbalances than traditional stableswaps. (4) New stablecoins can be onboarded to existing pools without requiring liquidity migration or disrupting existing LP positions.

For community support and questions, join Wombat Exchange's official Telegram and Discord (links in the footer). Technical documentation and guides are available at docs.wombat.exchange. For governance discussions and improvement proposals, participate at forum.wombat.exchange. Bug reports and security vulnerabilities should be submitted through the bug bounty program in the documentation. Always verify you are on the official website (wombat-exchange.xyz) and official social channels before connecting your wallet. Wombat support will never DM you first, ask for your seed phrase, or request you to send tokens for "verification" — these are always scams.